Small Business Is Big Winner in Data-Driven Marketing Economy

There’s no doubt that, thanks to data, today’s small businesses and startups are enjoying greater and greater advantages — with barriers to market-entry lower than they have been in over a hundred years. The unprecedented amount and quality of data available today affords small businesses greater insight into their customers’ needs than ever before — enabling them to provide the most relevant products and services.

Small Business Saturday, (held each year on the Saturday after Thanksgiving) is a program created by the Small Business Administration to encourage consumers to support their local small businesses. This year, according to the National Federation of Independent Business, consumers spent $5.5 billion at independent retailers on Small Business Saturday this year.

With all of these incredible benefits that data brings to small businesses, it’s important to remember that well-meaning, yet poorly conceived legislation restricting the responsible use of data could stifle innovation and make small businesses less competitive.

In fact, the biggest winners in the DDME – innovation and small businesses – would also be the biggest losers if startups could no longer use data to overcome barriers to entry, raise ad-supported revenue, and identify new and niche markets to serve. In the end, it would hurt consumers by limiting choices and raising prices.

The entire economy – from the biggest brands to the smallest startups – are benefitting from the data revolution. It’s our job to be vigilant and to make sure that all businesses – small and large – remain winners.